1 in 5 SMBs could be put out of business by a cyberattack

Research from VikingCloud finds that a successful cyberattack would force nearly one in five small- and medium-sized businesses to close down. For nearly a third of SMBs, a cyberattack with relatively small financial impact -- less than $10,000 -- would cause them to shut down, according to the report. Consequently cybersecurity (48 percent) has emerged as the second highest business concern for SMBs, with inflation/rising costs (67 percent) at the top, and recession/reduced consumer spending (46 percent) also a significant issue. 'SMBs are not always cyber aware. It makes them the lowest hanging fruit for cybercriminals to get a quick… [Continue Reading]